Citigroup Inc. Lowers Holdings in Hubbell Inc $HUBB

Citigroup Inc. lowered its stake in shares of Hubbell Inc (NYSE:HUBB) by 22.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 42,105 shares of the industrial products company’s stock after selling 11,857 shares during the period. Citigroup Inc. owned about 0.08% of Hubbell worth $18,118,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in shares of Hubbell by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company’s stock worth $38,611,000 after buying an additional 3,542 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Hubbell by 64.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,514 shares during the period. Nordea Investment Management AB increased its holdings in Hubbell by 15.7% in the 3rd quarter. Nordea Investment Management AB now owns 203,399 shares of the industrial products company’s stock worth $87,333,000 after acquiring an additional 27,576 shares in the last quarter. Walter Public Investments Inc. raised its position in Hubbell by 33.3% during the third quarter. Walter Public Investments Inc. now owns 35,086 shares of the industrial products company’s stock worth $15,098,000 after acquiring an additional 8,774 shares during the period. Finally, Troy Asset Management Ltd lifted its holdings in Hubbell by 5.8% during the third quarter. Troy Asset Management Ltd now owns 343,293 shares of the industrial products company’s stock valued at $147,722,000 after purchasing an additional 18,767 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 2.5%

NYSE HUBB opened at $511.22 on Friday. The business’s fifty day simple moving average is $487.96 and its 200-day simple moving average is $454.06. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.53. The firm has a market cap of $27.18 billion, a PE ratio of 30.67, a P/E/G ratio of 2.65 and a beta of 1.02. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $533.80.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.03. Hubbell had a net margin of 15.29% and a return on equity of 27.45%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $4.10 earnings per share. Hubbell’s quarterly revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. As a group, equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, February 27th. Hubbell’s payout ratio is presently 34.07%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Hubbell from $478.00 to $532.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Barclays boosted their price objective on Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Evercore raised their target price on Hubbell from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. UBS Group reiterated a “neutral” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, December 12th. Finally, Mizuho set a $575.00 price objective on Hubbell in a research note on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $529.75.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 25,233 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $498.97, for a total value of $12,590,510.01. Following the completion of the transaction, the chief executive officer directly owned 64,420 shares in the company, valued at approximately $32,143,647.40. This represents a 28.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Nero Jonathan M. Del sold 2,245 shares of Hubbell stock in a transaction on Monday, February 9th. The shares were sold at an average price of $500.60, for a total value of $1,123,847.00. Following the completion of the sale, the vice president owned 2,769 shares in the company, valued at $1,386,161.40. This represents a 44.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 34,689 shares of company stock valued at $17,407,395. Insiders own 0.66% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.